PETALING JAYA: Boustead Holdings Bhd saw a net loss of RM155 million in the third quarter ended Sept 30, 2019 compared with a net profit of RM7.30 million a year ago impacted mainly by impairment in heavy industries and property divisions.
However, its revenue rose 5% to RM2.73 billion from RM2.60 billion previously.
For the nine months period, the group’s net loss widened to RM153.10 million from RM14.20 million, mainly impacted by impairment in heavy industries and property divisions.
Its revenue, however, jumped 6% to RM7.79 billion from RM7.33 billion.
Boustead managing director Datuk Seri Amrin Awaluddin said as it strives to achieve a turnaround for the group, it is cognisant of the challenges it face in the current operating environment.
“We remain focused on enhancing efficiencies and extracting further value within the respective operating units, with a view to deliver sustainable earnings over the long-term,” he said in a statement.
source https://www.thesundaily.my/business/boustead-sinks-to-the-red-in-q3-JL1683139
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